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The Tanzania market presents an opportunity for locally manufactured products in pharmaceuticals, agricultural supplies, construction, engineering, safari clothing and footwear, the ZimTrade survey revealed. According to the findings, the Tanzanian pharmaceutical market has an annual budget of more than US$500 million. While disseminating the results to local companies in both Harare and Bulawayo, Africa Corporate Advisors Director, Mr. Malvern Rusike underscored the need to tap into this sector.“We have the capacity to tap into the Tanzanian Market pharmaceuticals sector and this is the time to do so. Our local companies could engage key buying institutions such as the Medical Stores Department (MSD) which has a 60% market share’, said Mr. Rusike.
“Tanzania and Zimbabwe have similar disease patterns therefore making market penetration relatively easy”, he added.
Opportunities were also identified in the agricultural sector, which is largely subsistence but contributes more than 25 percent to the country’s GDP. However, the government in partnership with the private sector and the donor community has embarked on a drive to commercialise the sector. Tanzania depends highly on imports for implements, chemicals, irrigation and other agro-engineering related products. The National Service Corporation, which is spearheading the mechanisation programme is open to partnering Zimbabwean implements manufacturers in supplying the farming community with relevant technology.
According to the findings, the construction industry in Tanzania has grown significantly in recent years. The Tanzanian government, under its Development Vision 2025, sets “infrastructure development” as one of its top priorities. The programme has created opportunities in the construction of roads, bridges, flyovers, upgrading of ports and new city developments, among others.
From 2016 to 2020, Tanzania has prioritised development of its leather, textile and oil seed value chains. The envisioned industrial growth has created a need for engineering products and services. Engineering, as a cross-cutting sector, can also tap into the growth within the agricultural and construction value chains. Companies in the clothing and footwear sectors were advised to target niche markets in tourist areas such as Arusha and Ngorongoro.
ZimTrade Chief Executive Officer, Ms. Sithembile Pilime, urged local companies to take advantage of Tanzania’s booming economy, which has grown from $18,6 to $48 billion within the past 10 years.
Online Reporter